- AMP Coin Price Retests Its Important Resistance Level
- Will AMP Price Rise Back Up?
- Crypto Market and AMP Forecasts
The year started strong for the crypto market, with AMP price surging approximately 550% in the first quarter. However, with the market losing momentum, the altcoin followed with a similar price action.
AMP Coin Price Retests Its Important Resistance Level
The AMP coin price has formed a falling wedge pattern on the 1D time frame and has been trading within it since mid-April. Notably, the altcoin is hovering close to its resistance trendline and, with a jump of over 11%, is on the verge of testing it. The outcome remains unpredictable. With a trading price of $0.004153, a circulating supply of 80,722,574,661 AMP, and a total supply of 99,213,408,535 AMP tokens, it has secured the 144th position with a market capitalization of $327.03 million.
Will AMP Price Rise Back Up?
If the market holds the AMP price above its support level of $0.004150, the bulls will regain momentum and test its resistance level of $0.006595. Maintaining the price at that level will set the stage for this altcoin to head toward its upper high of $0.009100. Conversely, if the bears regain momentum, the AMP coin price will start trading under a bearish sentiment and could plunge toward a new yearly low.
Crypto Market and AMP Forecasts
The 50-day EMA constantly acts as a resistance to the AMP price chart in the 1D time frame. This suggests strong bearish sentiment for the altcoin in the cryptocurrency market. On the other hand, the MACD indicator has displayed a constant rise in the green histogram with its averages showing a bullish action. This highlights uncertainty in the future price action of this altcoin.
Amid current market sentiments, significant external activity, and an intraday jump of 11.13%, there is hope for a potential AMP price recovery. However, market unpredictability makes any forecasts uncertain.
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